He said that following US pressure, the Dutch government had restricted ASML from exporting its most advanced lithography machines to China since 2019. This benefited US companies selling alternative technology, not ASML or the Dutch.

While 15 per cent of ASML’s sales are in China, while US chip equipment suppliers figures are 25 or sometimes more than 30 per cent.

The US claims that advanced chips owned by China pose a threat to national security due to military applications and the rise of artificial intelligence.

However, Wennink said: "What constitutes national security is for Americans to determine. But it is common knowledge that chip technology for purely military applications is usually ten to 15 years old.

The technology used to make such chips can still be sold to China. Artificial intelligence requires the most advanced chips. They are made with EUV and are not produced in China. But those chips are sold to the Chinese.

“American chip manufacturers have no problem with China as a customer," he pointed out.